- Uniti Group (UWL) has launched a share purchase plan aiming to raise $10 million
- While the issue price isn’t set in stone, eligible shareholders will be able to subscribe for between $1000 and $30,000 new UWL shares
- Proceeds will help Uniti acquire the Nautilus assets owned by Telstra (TLS) and facilitate the telco’s working capital requirements
- It follows an institutional placement which raised $50 million
- That cash injection will also support the Nautilus acquisition
- Uniti Group has dropped 0.57 per cent, trading at $1.73 per share
Uniti Group (UWL) has launched a share purchase plan aiming to raise $10 million.
Under the share purchase plan offer, each eligible shareholder will have the opportunity to subscribe for between $1000 and $30,000 of new UWL shares, without incurring brokerage or transaction costs.
The proceeds will help Uniti buy the Nautilus assets owned by Telstra (TLS) and facilitate the telco’s working capital requirements.
If subscriptions exceed the $10 million mark, UWL will scale back acceptances on a pro-rata basis, based on the securities applied for under the offer.
Shares will be issued at either $1.50 each or the five-day volume-weighted average price of shares traded up to and including Wednesday, 20 January 2021, less a 2 per cent discount rounded to the nearest cent.
It follows an institutional placement which raised $50 million — that cash injection will also support the acquisition.
The offer opens Wednesday, December 23, 2020, and closes at 5:00 pm AEDT on Wednesday, January 20, 2021.
Uniti Group has dropped 2.31 per cent, trading at $1.69 per share at 12:40 AEDT.